State Government Tax Collections, Property Taxes in Maryland
MDPROPTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
994,776.00
Year-over-Year Change
31.60%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures state government tax collections for property taxes in Maryland. It provides valuable insight into Maryland's fiscal health and the state's reliance on property tax revenue.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Government Tax Collections, Property Taxes in Maryland series tracks the total amount of property taxes collected by the state government of Maryland. This metric is used by economists and policymakers to analyze Maryland's tax structure, revenue sources, and overall fiscal position.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
This trend is relevant for understanding Maryland's economic and budgetary conditions, as well as the state's dependence on property tax revenue.
Key Facts
- Maryland collected $6.3 billion in property taxes in 2020.
- Property taxes account for over 40% of Maryland's total state tax revenue.
- Maryland's property tax collections have grown by 18% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of property taxes collected by the state government of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Maryland's fiscal health, revenue sources, and reliance on property tax income.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze Maryland's tax structure, revenue composition, and overall fiscal position.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Property Taxes in Maryland (MDPROPTAX), retrieved from FRED.